Fulcrum Therapeutics’ (FULC) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fulcrum Therapeutics (NASDAQ:FULC) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $17.00 price target on the stock.

Several other equities analysts have also weighed in on FULC. The Goldman Sachs Group upgraded shares of Fulcrum Therapeutics from a neutral rating to a buy rating and raised their price objective for the company from $6.00 to $15.00 in a research report on Monday, May 13th. Cantor Fitzgerald reiterated an overweight rating and set a $23.00 price objective on shares of Fulcrum Therapeutics in a research report on Wednesday, July 10th. Finally, Oppenheimer cut their target price on Fulcrum Therapeutics from $16.00 to $14.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Fulcrum Therapeutics has a consensus rating of Buy and an average price target of $15.57.

Fulcrum Therapeutics Trading Down 10.3 %

NASDAQ:FULC traded down $0.98 during midday trading on Thursday, hitting $8.57. 396,011 shares of the stock were exchanged, compared to its average volume of 720,549. The company has a market capitalization of $534.77 million, a price-to-earnings ratio of -5.97 and a beta of 2.29. Fulcrum Therapeutics has a one year low of $3.14 and a one year high of $13.70. The business has a 50-day moving average price of $7.57 and a two-hundred day moving average price of $8.23.

Fulcrum Therapeutics (NASDAQ:FULC) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.01. Fulcrum Therapeutics had a negative return on equity of 8.28% and a negative net margin of 3,470.05%. Sell-side analysts forecast that Fulcrum Therapeutics will post -1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Fulcrum Therapeutics

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI boosted its holdings in shares of Fulcrum Therapeutics by 869.6% during the second quarter. National Bank of Canada FI now owns 4,460 shares of the company’s stock worth $28,000 after purchasing an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Fulcrum Therapeutics by 348.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,150 shares of the company’s stock worth $48,000 after purchasing an additional 5,556 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Fulcrum Therapeutics during the 4th quarter valued at about $68,000. SG Americas Securities LLC bought a new stake in shares of Fulcrum Therapeutics in the 1st quarter valued at approximately $115,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Fulcrum Therapeutics in the first quarter worth approximately $308,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

About Fulcrum Therapeutics

Fulcrum Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial.